Samindo Resources (MYOH) recorded a cover rock volume of 40.1 million bcm

JAKARTA. The coal mining service company, PT Samindo Resources Tbk (MYOH) managed to record 40.1 million bcm of overburden by the end of the third quarter of 2019. This figure grew 3.3% (yoy) compared to the same period last year.

On a quarterly basis, the volume of overburden obtained by MYOH also increased by 23.3% (qoq) from 12.5 million bcm in the April-June period to 15.5 million bcm in the July-September period.

MYOH Head of Investor Relations Ahmad Zaki Natsir said the low rainfall was the main factor behind the increase in the company's rock cover volume.

Just so you know, at the beginning of the year until near the end of the first semester the rainfall at the MYOIH mine site is very high. In fact, several days in April and June the maintenance hour or maintenance hour when it rains could reach 7 hours per day.

This means that in one day only 17 hours of operational activities can run normally. "The rest of the activities must be stopped due to conditions that do not allow for operational activities," said Zaki in a release received by Kontan, Wednesday (10/30).

Different conditions occur when entering the third quarter where rainfall falls dramatically, even relatively rain does not occur. On average, from July to August the treatment period when it rains only reaches 1.1 hours per day. This result has a significant impact on MYOH operations.

In addition, the increase in MYOH cover rock volume is also supported by the latest mining equipment that is fully operational.

Just so you know, this year MYOH has budgeted capital expenditure of US $ 14.5 million to purchase 10 units of dump trucks. "Since the first quarter, the equipment has gradually arrived and by the end of the first semester all garbage trucks have been on site and are ready to be fully operated," said Zaki.

He also hopes that until the end of the year rainfall will not be too high so that operational activities will be stable. MYOH also seeks to improve the performance of all heavy equipment so that the volume of overburden can continue to increase.